| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Statements of Operations: | |||||||||
Revenue | |||||||||
458,728 | 445,596 | 344,490 | 298,055 | 264,106 | 209,583 | 163,112 | 125,991 | 98,939 | 64,919 |
Cost of revenue | |||||||||
223,438 | 206,917 | 150,648 | 131,118 | 109,703 | 81,182 | 61,410 | 49,853 | 39,324 | 25,443 |
Gross profit | |||||||||
235,290 | 238,679 | 193,842 | 166,937 | 154,403 | 128,401 | 101,702 | 76,138 | 59,615 | 39,476 |
Operating expenses | |||||||||
Marketing and sales | |||||||||
72,976 | 68,533 | 56,856 | 46,131 | 39,188 | 29,144 | 22,386 | 18,098 | 15,752 | 10,867 |
Research and development | |||||||||
32,700 | 28,700 | 23,600 | 22,388 | 18,350 | 16,607 | 11,863 | 9,137 | 5,222 | 4,281 |
General and administrative | |||||||||
49,766 | 52,513 | 41,200 | 36,651 | 29,716 | 22,122 | 16,154 | 13,957 | 11,772 | 7,629 |
Loss on impairment of foreign subsidiary assets | |||||||||
- | - | - | - | - | - | - | - | - | 773 |
Total operating expenses | |||||||||
155,434 | 149,781 | 121,616 | 105,170 | 87,254 | 67,873 | 50,403 | 41,192 | 32,746 | 23,550 |
Income from operations | |||||||||
79,856 | 88,898 | 72,226 | 61,767 | 67,149 | 60,528 | 51,299 | 34,946 | 26,869 | 15,926 |
Other income, net | |||||||||
1,337 | 2,757 | 2,209 | 2,454 | 712 | 3 | 279 | 23 | -114 | -213 |
Income before income taxes | |||||||||
81,193 | 91,655 | 74,435 | 64,221 | 67,861 | 60,531 | 51,578 | 34,969 | 26,755 | 15,713 |
Provision for income taxes | |||||||||
17,538 | 15,067 | 22,657 | 21,514 | 21,347 | 18,896 | 16,301 | 10,944 | 8,783 | 4,762 |
Net income | |||||||||
63,655 | 76,588 | 51,778 | 42,707 | 46,514 | 41,635 | 35,277 | 24,025 | 17,972 | 10,951 |
Net income per share: | |||||||||
Less: dividends on redeemable preferred stock | |||||||||
- | - | - | - | - | - | - | - | 4,179 | 4,179 |
Less: undistributed earnings allocated to preferred shareholders | |||||||||
- | - | - | - | - | - | - | - | 4,507 | 2,377 |
Net income attributable to common shareholders | |||||||||
- | - | - | - | - | - | - | - | 9,286 | 4,395 |
Basic (in dollars per share) | |||||||||
2.37 | 2.84 | 1.94 | 1.62 | 1.79 | 1.62 | 1.40 | 1.03 | 0.75 | 0.40 |
Diluted (in dollars per share) | |||||||||
2.35 | 2.81 | 1.93 | 1.61 | 1.77 | 1.60 | 1.36 | 0.98 | 0.67 | 0.34 |
Shares used to compute net income per share: | |||||||||
Basic (in shares) | |||||||||
26,866 | 26,982 | 26,647 | 26,365 | 26,005 | 25,692 | 25,198 | 23,373 | 12,352 | 11,079 |
Diluted (in shares) | |||||||||
27,049 | 27,278 | 26,845 | 26,564 | 26,320 | 26,100 | 25,859 | 24,443 | 13,939 | 13,051 |
Other Comprehensive (Loss) Income, net of tax | |||||||||
Foreign currency translation adjustments | |||||||||
1,474 | -3,258 | 5,519 | -5,541 | -2,283 | -1,838 | -163 | -190 | -280 | -214 |
Comprehensive Income (net of tax) | |||||||||
Comprehensive income | |||||||||
65,129 | 73,330 | 57,297 | 37,166 | 44,231 | 39,797 | 35,114 | 23,835 | 17,692 | 10,737 |